"It requires a great deal of boldness to make a fortune, & when you have it, it requires 10 times as much skill to keep it"
Ralph Waldo Emerson
Fraud in economic downturns is prevalent and responding to fraud is difficult with finite organisational resources, and the fact that more fraud is detected by staff and by accident. Through investigating fraud H&A can assist companies adopt fraud risk strategy?s that are integrated with their overall risk management regime.
Like all risk management strategies, a fraud risk assessment is a process of continuing improvement and identifying opportunity for value creation. At Hill & Associates, we believe an integrated approach to risk management will allow enterprises to better understand its susceptibility to fraud and misconduct vulnerabilities and allow enterprises to detect potential threats that cannot be concluded through traditional audit techniques.
Our fraud risk reviews are structured to provide the following:
Understand the nature of business and key operations and/or functions;
Determine key areas of fraud, misconduct risk and vulnerabilities in specific operations;
Assess the quality of existing fraud risk management processes in the current business environment;
Provide clear direction on how to deal with the identified vulnerabilities or gaps in the operations
Even in the current business environment, shareholders and government watchdogs expect directors and officers to maintain standards of corporate governance and compliance. Penalties for non-compliance remain. Companies must adopt a corporate strategy for addressing the issues of corporate governance, transparency and dealing with any exposure to perceived fraud, misconduct and corruption risks.
To know more about our Fraud Prevention and Integrity Risk services, please contact the following:
John McFarland Head of Fraud Prevention & Integrity Risk Services
Or
Janice Wong Vice President Fraud Prevention and Integrity Risk Services
